Lost decade in translation
Subtitle: did the US learn from Japan's post-bubble mistakes?
By: James Harrigan, Kenneth Kuttner.
Contributors: Kuttner, Kenneth N.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10938; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10938.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Japan -- Economic conditions -- 1989-; United States -- Economic conditions -- 1981-2001.
Description: "In 1991, the Japanese economy ended a historic expansion and entered a period of stagnation that has yet to abate.  Nine years later, the US economy ended a similarly historic expansion.  There were many similarities in the two countries' expansions: asset price bubbles, a real investment boom, easy monetary policy, and improvements in government finances.  In the wake of bursting bubbles, the Japanese banking system was insolvent and monetary policy was too tight, problems not evident in the US post-bubble period.  But the US has worse fiscal and current account imbalances than Japan had at the same stage in the post-bubble era"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/12/2005.
Also available in print.
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Mode of access: World Wide Web.